Dublin, Nov. 10, 2020 (GLOBE NEWSWIRE) -- The "Low-Code Development Platform Market Research Report: By Offering, Deployment Type, Enterprise, Vertical - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global low-code development platform market is predicted to generate a revenue of $187.0 billion by 2030, rising from $10.3 billion in 2019, and is expected to advance at a fast pace, 31.1% CAGR, during the forecast period (2020-2030).
One of the major factors that is affecting almost all the industries these days is digital transformation. As various digital technologies are being introduced in the market, dependence on them is increasing as well. A number of companies these days are relying on digital solutions in order to stay competitive in the market, making their processes easier, and for reducing time and resources. Owing to digitalization, businesses are developing applications for providing their customers with improved solutions. This, in turn, has resulted in the growing demand for low-code development platforms across the globe.
This platform allows developers of different experience levels to create applications for mobile and web by making use of drag-and-drop components. Low-code developments makes things easier for non-technical developers, as they don't have to write code, and further supports professionals developers by taking care of infrastructure and plumbing tasks that are needs for application development.
Solutions, including request handling, general purpose, mobile-first app, process app, and database app, and services, including professional and managed, are the two major components of low-code development platform. The adoption of different solutions was higher in the past, since companies do not need to hire software developers by making use of these solutions.
Other than this, the demand for low-code development services is also projected to increase in the years to come, which is owing to the rising need for integration, implementation, and consulting services. In addition to this, the demand for these services is also growing due the rising need for upgradation, technical expertise, maintenance, and monitoring of low-code platforms.
A number of industries make use of low-code development platforms, including energy & utilities, information technology (IT), education, banking, financial services, & insurance, media & entertainment, retail, manufacturing, healthcare, and government. In the past, the IT industry made the most use of low-code development platform. IT organizations develop several web and mobile applications and other third-party applications.
These companies also register large number of requests for new apps and third-party packaged solutions from several organizations and face backlogs. It is due to these factors that the industry is adopting low-code development platforms which provide visual app creation and sharing and updating facilities.
Geographically, North America emerged as the largest low-code development platform market in the past, which can majorly be ascribed to the early adoption of new technologies, increased disposable income, high IT spending, and technically inclined population in the region. Other than this, the demand for this platform is also predicted to increase considerably in the Asia-Pacific region in the coming years, owing to the surging internet penetration, increasing utilization of smartphones, and rapid economic growth.
Hence, the demand for low-code development platform is growing due to digital transformation across the globe.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
3.1 Voice of Industry Experts/KOLs
Chapter 4. Market Indicators
4.1 Total Number of Enterprises, by Sector
4.1.2 Information and Communication Technology (ICT)
4.1.3 Wholesale and Retail Trade
4.1.4 Accommodation and Food Service Activities
4.1.5 Administrative and Support Service Activities
4.1.6 Professional, Scientific, and Technical Activities
4.1.7 Real Estate
4.1.8 Electricity, Gas, Steam, and Air Conditioning Supply
4.1.9 Transportation and storage
4.2 Geographical Distribution of Spending on Internet of Things (IoT)
4.3 Internet Protocol Traffic
4.4 Share of ICT Services in Total Exports of Services: Top 20 countries
4.5 Online Content Creation, by Geographical Region
4.6 Proportion of Small and Large Enterprises Receiving Orders over the Internet
4.7 Predicted Software Budget Breakout for 2020
4.8 Digital Adoption in Europe and the U.S.
4.9 Adoption of Different Digital Technologies by Start-Ups and Scale-Ups
4.10 Internet Access: % of All households
4.11 Digital Competitiveness Ranking
Chapter 5. Introduction
5.1 Definition of Market Segments
5.1.1 By Offering
126.96.36.199.1 General purpose
188.8.131.52.2 Process app
184.108.40.206.3 Database app
220.127.116.11.4 Mobile-first app
18.104.22.168.5 Request handling
5.1.2 By Deployment Type
5.1.3 By Enterprise
22.214.171.124 Large enterprises
5.1.4 By Vertical
126.96.36.199 Media and entertainment
188.8.131.52 Energy and utilities
5.2 Value Chain Analysis
5.3 Market Dynamics
184.108.40.206 Need for optimum TTM strategy
220.127.116.11 Increasing preference toward cloud-based low-code development platform
18.104.22.168 Increasing demand for business digitization
22.214.171.124 Less dependency on IT professionals
126.96.36.199 Stringent government norms
188.8.131.52 Impact analysis of drivers on market forecast
184.108.40.206 Threat to scalability and security of data
220.127.116.11 Impact analysis of restraints on market forecast
18.104.22.168 AI-enabled low-code development platform to accelerate digital transformation
5.4 Impact of COVID-19 on Low-Code Development Platform Market
5.4.1 Current Scenario
5.4.2 COVID-19 Scenario
5.4.3 Factors Affecting the Market Growth
5.4.4 Future Scenario
5.5 Porter's Five Forces Analysis
Chapter 6. Global Market Size and Forecast
6.1 By Offering
6.1.1 Solution, by Type
6.1.2 Service, by Type
6.2 By Deployment Type
6.3 By Enterprise
6.4 By Vertical
6.5 By Region
Chapter 7. North America Market Size and Forecast
7.1 By Offering
7.1.1 Solution, by Type
7.1.2 Service, by Type
7.2 By Deployment Type
7.3 By Enterprise
7.4 By Vertical
7.5 By Country
Chapter 8. Europe Market Size and Forecast
Chapter 9. APAC Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. MEA Market Size and Forecast
Chapter 12. Major Markets
12.1 U.S. Market Revenue, by Vertical
12.2 Germany Market Revenue, by Vertical
12.3 China Market Revenue, by Vertical
12.4 U.K. Market Revenue, by Vertical
12.5 India Market Revenue, by Vertical
Chapter 13. Competitive Landscape
13.1 List of Key Players and Their Low-Code Offerings
13.2 Market Share Analysis of Key Players
13.3 Competitive Benchmarking of Market Players
13.4 Recent Activities of Major Players
13.5 Strategic Developments of Key Players
Chapter 14. Company Profiles
14.1 Business Overview
14.2 Product and Service Offerings
14.3 Key Financial Summary
Mendix Technology B.V.
Magic Software Enterprises Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/xtj1zy
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900